LIFE, INC. Statement of Cash Flows For the Year Ended December 31, Year 1 \begin{tabular}{|l|l|l|} \hline Cash flows from operating activities: & & \\ \hline & & \\ \hline Net cash flow from operating activities & & \\ \hline Cash flows from investing activities & & \\ \hline Cash flows from financing activities & & \\ \hline Net change in cash & & \\ \hline & & \\ \hline Ending cash balance & & \\ \hline \end{tabular} Life, Inc., experienced the following events in Year 1, its first year of operation: 1. Performed counseling services for $20,400 cash. 2. On February 1. Year 1, paid $13,800 cash to rent office space for the coming year. 3. Adjusted the accounts to reflect the amount of rent used during the year. Required Based on this information alone: o. Record the events under an accounting equation. b. Prepare an income statement, balance sheet, and statement of cash flows for the Year 1 accounting period. c. Ignoring all other future events, what is the amount of rent expense that would be recognized in Year 2 ? Complete this question by entering your answers in the tabs below. Record the events under an accounting equation. (Do not round intermediate calculations. Enter any decreases to ac balances with a minus sign.) \begin{tabular}{|l|l|} \hline \multicolumn{1}{|c|}{ LIFE, INC. } \\ \hline \multicolumn{1}{|c|}{ Balance Sheet } \\ \hline Assets of December 31, Year 1 \\ \hline \end{tabular} Prepare an income statement for tharear 1 accountin Ignoring all other future events, what is the amount of rent expense that would be recognize intermediate calculations.)